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Lee Klarich, EVP, Chief Product & Tech Officer at Palo Alto Networks Inc (NASDAQ:PANW), sold 100,364 shares of common stock on November 3, 2025, for approximately $26.3 million. The sales were executed in multiple transactions with prices ranging from $215.883 to $220.4 per share.
The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 27, 2024.
On the same day, Klarich also exercised options to acquire 92,010 shares of Palo Alto Networks common stock at a price of $32.25, for a total value of approximately $2.9 million.
Additionally, on November 1, 2025, Klarich acquired 468,038 shares of common stock with a value of $0, resulting from the vesting of performance-based restricted stock units. Also on that date, 232,055 shares were withheld by Palo Alto Networks to cover income tax obligations related to the vesting of performance stock units, valued at $51.1 million with a price of $220.24.
In other recent news, Palo Alto Networks has been active with several new product launches and developments. The company introduced Cortex AgentiX, a platform designed to enhance security for AI agents, which builds on its existing Cortex XSOAR technology. Additionally, Palo Alto Networks unveiled Cortex Cloud 2.0, an upgraded cloud security platform featuring autonomous AI agents and a unified Cloud Command Center. This new version aims to tackle the fragmentation in cloud security tools. Furthermore, the company launched Prisma AIRS 2.0, integrating Protect AI technology to secure enterprise AI systems, addressing a significant market gap in AI security measures.
In analyst-related news, Citizens raised its price target for Palo Alto Networks to $250 from $212, maintaining a Market Outperform rating. This adjustment reflects a revised multiple for the company’s stock valuation. Additionally, TD Cowen analysts highlighted Palo Alto Networks during their Software Bus Tour, noting the company’s strategies in software growth and AI adoption. These developments underscore Palo Alto Networks’ ongoing efforts to innovate and secure its position in the cybersecurity industry.
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